Performance Improvement Plan in bank - this is the way out?

Yes, they've begun the process. If you fail to meet the objectives of the plan, they use it as grounds to terminate your employment.

I'd look for employment now. Seems like they might be out to get you.

Yeah. I read the map.
Thanks

Its a nice way saying give you 3 months to look for jobs

yes, you should start looking around yesterday. whether you meet the performance plan or not, life will be miserable at the office and youre going to want to leave.

The only issue with looking for a position when on a PIP is if the potential employer reaches out to your current employer and is informed about the PIP and the current actions which unless you informed the potential employer beforehand may sink your chances at the new firm... and if you tell them beforehand, they might end the process right there and then.

So you really have two options, get a position BEFORE the PIP is in place so that there is nothing formally on your record except your previous reviews OR stick it out through the PIP and basically suck it up so that you meet all of the end points of the PIP and thereby removing any 'cause' they might have to fire you. If you are put on the PIP and are terminated later, you might have grounds for a wrongful dismissal case especially if you meet the end points as listed in the PIP.

craftsman wrote: ↑ The only issue with looking for a position when on a PIP is if the potential employer reaches out to your current employer and is informed about the PIP and the current actions which unless you informed the potential employer beforehand may sink your chances at the new firm... and if you tell them beforehand, they might end the process right there and then.

So you really have two options, get a position BEFORE the PIP is in place so that there is nothing formally on your record except your previous reviews OR stick it out through the PIP and basically suck it up so that you meet all of the end points of the PIP and thereby removing any 'cause' they might have to fire you. If you are put on the PIP and are terminated later, you might have grounds for a wrongful dismissal case especially if you meet the end points as listed in the PIP.

The problem is that I lost any desire to work here.
Don't want to stay.
Super toxic environment.

And at the same rate I don't want to quit since I will be left without pay.

I have friends who work here and I can give their reference instead of my boss.

doctor80 wrote: ↑ The problem is that I lost any desire to work here.
Don't want to stay.
Super toxic environment.

And at the same rate I don't want to quit since I will be left without pay.

I have friends who work here and I can give their reference instead of my boss.

I'm not saying to STAY there for the long term... I'm saying stay there until the PIP is finished so that it's not overhanging any potential offers you might get afterwards - ie play nice until the PIP is completed and then get the hell out. You'll probably get better opportunites for higher wages if you aren't in the middle of a PIP.

References from friends only mean so much... any good potential employer would ask for your boss's contact information and if you won't/can't provide it, they would want to know why and that why better be a good why.

Besides, there's a chance that the potential employer won't talk to you boss but just contact your HR department in order to confirm employment (ie that you actually work there), position, and remumeration. It's possible that they would also talk about your current status of being under a PIP which isn't good.

doctor80 wrote: ↑ The problem is that I lost any desire to work here.
Don't want to stay.
Super toxic environment.

And at the same rate I don't want to quit since I will be left without pay.

I have friends who work here and I can give their reference instead of my boss.

You shouldn't have waited until the PIP to look for a job. But in this case there's nothing you can do. Start applying now and get co-workers to vouch for your experience at the place.

doctor80 wrote: ↑ The problem is that I lost any desire to work here.
Don't want to stay.
Super toxic environment.

And at the same rate I don't want to quit since I will be left without pay.

I have friends who work here and I can give their reference instead of my boss.

Well, start looking I guess...once the PIP starts, it will be 1000% more toxic. Hope you like role playing and making calls with someone watching and coaching you all day long

craftsman wrote: ↑ The only issue with looking for a position when on a PIP is if the potential employer reaches out to your current employer and is informed about the PIP and the current actions which unless you informed the potential employer beforehand may sink your chances at the new firm... and if you tell them beforehand, they might end the process right there and then.

So you really have two options, get a position BEFORE the PIP is in place so that there is nothing formally on your record except your previous reviews OR stick it out through the PIP and basically suck it up so that you meet all of the end points of the PIP and thereby removing any 'cause' they might have to fire you. If you are put on the PIP and are terminated later, you might have grounds for a wrongful dismissal case especially if you meet the end points as listed in the PIP.

I'm assuming OP is currently at a big 5 bank. I don't think future employers can legally contact his boss, group or HR team about anything during the interview process (PIP, salary, etc.), unless they know them at a personal level, which is possible. Even if he gets an offer, pretty sure new employer can only verify length of employment he listed on resume.

At the end of the day, it's all about how you position and sell yourself in the interview. Easier said than done, but filter out the toxicity and focus on your next step

doctor80 wrote: ↑ The problem is that I lost any desire to work here.
Don't want to stay.
Super toxic environment.

And at the same rate I don't want to quit since I will be left without pay.

I have friends who work here and I can give their reference instead of my boss.

Stick it out as long as you can. Even if they fire you, pretty sure you will still get severance as no company will want to deal with the slightest risk of lawsuit.

bear20 wrote: ↑ Stick it out as long as you can. Even if they fire you, pretty sure you will still get severance as no company will want to deal with the slightest risk of lawsuit.

There's usually no severance pay if you fail to meet the conditions of a PIP. They will let you go with cause.

craftsman wrote: ↑ The only issue with looking for a position when on a PIP is if the potential employer reaches out to your current employer and is informed about the PIP and the current actions which unless you informed the potential employer beforehand may sink your chances at the new firm... and if you tell them beforehand, they might end the process right there and then.

So you really have two options, get a position BEFORE the PIP is in place so that there is nothing formally on your record except your previous reviews OR stick it out through the PIP and basically suck it up so that you meet all of the end points of the PIP and thereby removing any 'cause' they might have to fire you. If you are put on the PIP and are terminated later, you might have grounds for a wrongful dismissal case especially if you meet the end points as listed in the PIP.

Pretty sure that's highly illegal for an employer to disclose anything about performance. Just whether you are currently employed or not. If you find out they disclosed you were on a PIP to a prospective employer, you'd be on the winning side of a lawsuit.

Extrahard wrote: ↑ You shouldn't have waited until the PIP to look for a job. But in this case there's nothing you can do. Start applying now and get co-workers to vouch for your experience at the place.

The whole problem my friend is that they were silent the entire year and no feedback was provided.
And only couple of weeks ago my manager informed me.
How I even suppose to know without receiving feedback? What kind of practice is it, to wait for the entire year and then tell.
My gut feeling says that my team doesn't like me and I feel it.
Even though that I tried to integrate to their culture (I am white caucasian), it's really hard if you are the only one among same mentality group.